Value Proposition

Current Custody Solutions Fail Users

Current solutions to store cryptocurrencies either lack transparency, safety, or liquidity.
CDx enables users to access the liquidity of an exchange without the risk of hacks.

Centralized Exchanges

Access to liquidity

Open to exchange credit risk

Obvious target for hackers

Little transparency

Personal Wallets

Zero exchange credit risk

Zero immediate liquidity

Legal restrictions

Potential for user error

CDx Protocol

Best of both worlds

Zero exchange credit risk

Access to liquidity

Full transparency

WHAT IS CDx?

Credit Default Swaps are Tradable Insurance Policies

The buyer pays the seller a premium upfront in exchange for protection from an event, such
as an exchange being hacked.

Swap Lifecycle

Step #1

Permissionless Swap Creation

Protocol users design and propose new types of swaps, which can then be issued and traded.

Step #2

Decentralized Swap Trading

CDx utilizes the 0x architecture to power peer-to-peer trading of credit default swaps.
Buyers and sellers connect via a relayer to exchange swaps in a fully trustless and decentralized manner.

Step #3

Efficient Swap Settlement

A decentralized committee made up of CDx token holders vote to resolve the outcome of credit
events. If a credit event occurs, the buyer receives their promised protection; otherwise, the seller gets their
collateral back.